Johnson Outdoors Inc. (NASDAQ:JOUT) Plans $0.31 Quarterly Dividend

Johnson Outdoors Inc. (NASDAQ:JOUT – Get Rating) declared a quarterly dividend on Thursday, May 25th, Zacks reports. Stockholders of record on Thursday, July 13th will be paid a dividend of 0.31 per share on Thursday, July 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Wednesday, July 12th.

Johnson Outdoors has raised its dividend payment by an average of 25.3% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Johnson Outdoors has a payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Johnson Outdoors to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 21.0%.

Johnson Outdoors Price Performance

Shares of JOUT opened at $58.69 on Friday. The firm has a 50 day simple moving average of $60.14 and a 200-day simple moving average of $62.22. Johnson Outdoors has a 1-year low of $46.30 and a 1-year high of $73.43. The stock has a market cap of $601.57 million, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.88 and a beta of 0.87.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Johnson Outdoors in a research note on Thursday, May 18th. They issued a “buy” rating for the company.

Hedge Funds Weigh In On Johnson Outdoors

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in Johnson Outdoors by 17.5% during the first quarter. Ameriprise Financial Inc. now owns 23,187 shares of the company’s stock worth $1,461,000 after acquiring an additional 3,449 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Johnson Outdoors by 38.4% in the first quarter. JPMorgan Chase & Co. now owns 6,486 shares of the company’s stock valued at $408,000 after acquiring an additional 1,800 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Johnson Outdoors by 93.6% in the first quarter. New York State Common Retirement Fund now owns 7,445 shares of the company’s stock valued at $469,000 after acquiring an additional 3,600 shares in the last quarter. Susquehanna International Group LLP boosted its holdings in Johnson Outdoors by 90.3% during the first quarter. Susquehanna International Group LLP now owns 7,217 shares of the company’s stock worth $455,000 after buying an additional 3,425 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Johnson Outdoors during the first quarter worth approximately $535,000. 60.15% of the stock is owned by hedge funds and other institutional investors.

Johnson Outdoors Company Profile

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Johnson Outdoors, Inc engages in the manufacturing and marketing of seasonal, outdoor recreation products. It operates through the following segments: Fishing, Camping, Watercraft Recreation, Diving, and Other. The Fishing segment includes the brands Minn Kota electric motors for quiet trolling or primary propulsion, marine battery chargers, and shallow water anchors, Humminbird sonar and GPS equipment for fishfinding, navigation and marine cartography, and Cannon downriggers for controlled-depth fishing.